@ChessChik47 wrote:
@Anonymous wrote:
@luxlight wrote:Welcome to myFICO. So the main thing that most people mention is that the "preapprovals" that CreditKarma shows are really nothing other than ads. If you want to actually check for preapprovals with certain banks. Most of them such as Chase, Discover, Capital One, etc. have their own preapproval pages that would be much more accurate than what CreditKarma is trying to show.
Thank you! So I took your advice and went to Capital One's Pre-qualify page. They displayed the same card that CK did saying I pre-qualified for it. I edited my original post to include some information from my CK file to hopefully give someone the information they may need to recommend continuing with the application or not?
Hi Bmajor, I suggest doing what others have recommended and check ALL the prequal sites, not just Capital One. You should be choosing a card/cards that have benefits you want/need, not just because a website "recommends" them. You may be limited now, but in time as your score improves, you will have plenty of options. Good luck in your journey!
I wish I had seen your message earlier. I had decided to apply for the one I saw on the Capital One website. I ended up getting approved for a $300 limit! I was speechless and couldn't believe what I was seeing! The only real need I have is at this time is rebuilding my credit profile, so a card with a lower limit is kinda perfect, especially if I'm able to be responsible enough with it. I'll keep you folks updated, and thank you again for all of the advice! 
If you are serious about building, then you need to get a copy of your Fico scores. You can get a trial at creditchecktotal.com for next to nothing. The ones from Credit Karma could be( and probably are) way off from where your fico scores are at. I know mine are about 60 points lower now on CK than my fico scores. When my file was dirty, then they were higher than my fico.
It will take a couple of months before the capital one reports, but you should get a nice boost once it does, just keep your reported utilization below 8.9% of the card limit. Since you do not have any revolver on your report then you are getting dinged for no revolving credit.
@Bmajor0327
Welcome to the forum. You got plenty of great advice and the people here know what they are talking about. Generally, if someone doesn't have a straight out answer for you they will say so, otherwise the advice is solid. Lots of wisdom here.
Like others said, pull your report and FICO scores. You can do it for basically nothing. Not doing it is what will really cost you down the road. Credit Karma is more like an enthusiastic tour guide with a two-week certificate.
I'm fairly certain that Cap1 Platinum card does 'credit steps'. In other words, don't miss a any payments for 5 consecutive months (or 6- can't remember exactly) and they will automatically increase you to $500. Keep managing that card for at least six months and you may even be able to do a product upgrade and have a reward card that will benefit you much more. Good luck and always go to the Issuers sites to check pre-qualify. 👍🏽
Welcome to the forum. You got plenty of great advice and the people here know what they are talking about. Generally, if someone doesn't have a straight out answer for you they will say so, otherwise the advice is solid. Lots of wisdom here.
Like others said, pull your report and FICO scores. You can do it for basically nothing. Not doing it is what will really cost you down the road. Credit Karma is more like an enthusiastic tour guide with a two-week certificate.
I'm fairly certain that Cap1 Platinum card does 'credit steps'. In other words, don't miss a any payments for 5 consecutive months (or 6- can't remember exactly) and they will automatically increase you to $500. Keep managing that card for at least six months and you may even be able to do a product upgrade and have a reward card that will benefit you much more. Good luck and always go to the Issuers sites to check pre-qualify. 👍🏽
